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Thread: Virginians uneasy over Chinese purchase of Smithfield

  1. #1
    Taking A Stand!!!

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    Default Virginians uneasy over Chinese purchase of Smithfield

    Earlier this week, Smithfield Foods received a $4.7 billion buyout offer from a Chinese food company. News that an agreement had been reached and was awaiting U.S. government approval sent a shiver through the community, where it is the largest employer with a payroll of nearly 4,000 people. Worldwide, Smithfield employs 46,000.
    Shuanghui International Holdings Ltd’s agreement to buy Smithfield would be the largest acquisition of a U.S. company by a Chinese one. The bid is part of an effort to feed growing demand in China for U.S. pork.
    Virginians uneasy over Chinese purchase of Smithfield - The Morning Sun

  2. #2
    I Am Rocking Now

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    Default Re: Virginians uneasy over Chinese purchase of Smithfield

    It does not surprise me at all , the Chinese are trying to control us with there products from China and what better way to control us by buying U.S. companies , and YES they will cut jobs .
    Let me tell you a funny story , we have a construction company in New York that's from China , They are working on a project at I-87 and I-95 JCT. , now after about close to 3 years they are finally starting to see how unions work , the job has 2 more years to go and in the beginning they would try to fire a driver every week, once a week the B.A.'s were there fighting with them , they keep saying in China the driver not only drives but picks up a shovel and works in between driving jobs , and the B.A.'s told them that does not work in the U.S.A. , They would tell the workers that they are lazy , and Chinese workers work harder then American's , my friend who works there said they would just laugh in there face , and one time they were 6 months behind in benefits and pension payments they had the money they just did not want to pay , they said why should we pay so much for a worker , that American workers make to much money , it was only when the different trade unions got together and said the work will stop until payments are made , then the company paid all the benefits . The Best part is this company is bidding on a lot of work through out the U.S.A. , they found out about R.T.W. States and now that's where they want to work , they will fit right in .
    ABFwife likes this.

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    Default Re: Virginians uneasy over Chinese purchase of Smithfield

    This should make you puke.
    The thought of another executive making millions off the sale of the company while employees lose their jobs and a foreign company acquires the business.

    Smithfield Foods Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing showed.
    And he isn't the only Smithfield executive to rake it in.

    Robert Manly, Smithfield's chief financial officer, would also be eligible to receive about $22.8 million in potential merger-related payments, the filing showed.

    The money does not include the value of benefits which the executives already have a vested right to receive without regard to the buyout deal, the company said.
    Smithfield CEO Could Make About $46.6 Million on Shuanghui Deal

    And we wonder what's wrong with this economy.
    Nothing if your uber rich.

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    Default Re: Virginians uneasy over Chinese purchase of Smithfield

    Quote Originally Posted by fxstc07 View Post
    This should make you puke.
    The thought of another executive making millions off the sale of the company while employees lose their jobs and a foreign company acquires the business.



    And he isn't the only Smithfield executive to rake it in.


    Smithfield CEO Could Make About $46.6 Million on Shuanghui Deal

    And we wonder what's wrong with this economy.
    Nothing if your uber rich.
    All the anti-union , R.T.W. Groups would say it's ok , there is nothing wrong with that . If you think it's bad now , wait till the Chinese take over , they will have 50 people wanting to do the work of 150 people .

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    Default Re: Virginians uneasy over Chinese purchase of Smithfield

    Smithfield Receives U.S. Approval for Biggest Chinese Takeover

    Smithfield Foods Inc. (SFD), the world’s largest hog and pork producer, said U.S. regulators will allow the company to be bought by China’s Shuanghui International Holdings Ltd. in what would be the biggest Chinese purchase of a U.S. firm.

    Smithfield Receives U.S. Approval for Biggest Chinese Takeover - Bloomberg

 

 

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